Nokia 2014 Annual Report Download - page 149

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147
Financial statements
NOKIA IN 2014
Present value of obligations include EUR 407 million (EUR 425 million in 2013) of wholly funded obligations, EUR 1 408 million (EUR 979 million
in2013) of partly funded obligations and EUR 69 million (EUR 49 million in 2013) of unfunded obligations.
Amounts included in personnel expenses in the consolidated income statement are as follows for the years ended December 31 (Continuing
operations in 2014 and 2013 and the Group in 2012):
EURm 2014 2013 2012
Current service cost 39 44 58
Past service cost and gains and losses on curtailments -(5) (23)
Net interest cost 711 5
Settlements (1) (4) (3)
Total 45 46 37
Movements in pension remeasurements recognized in other comprehensive income for the years ended December 31 (Continuing operations
in 2014 and 2013 and the Group in 2012) are:
EURm 2014 2013 2012
Return on plan assets (excluding interest income), gain 44 15 62
Changes in demographic assumptions, (loss)/gain (1) 4 –
Changes in nancial assumptions, (loss)/gain (321) 93 (264)
Experience adjustments, (loss)/gain (16) 6(25)
Current year change in asset ceiling 4(4) (1)
Total (290) 114 (228)
Actuarial assumptions
The principal actuarial weighted average assumptions used for determining the dened benet obligation are:
%2014 2013
Discount rate for determining present values 2.6 4.0
Annual rate of increase in future
compensation levels 1.9 2.4
Pension growth rate 1.4 1.7
Ination rate 1.6 2.0
Assumptions regarding future mortality are set based on actuarial advice in accordance with published statistics and experience in each country.
The discount rates and mortality tables used for the signicant plans are:
2014 2013 2014
Discount rate % Mortality table
Germany 2.0 3.6 Richttafeln 2005 G
UK 3.5 4.5 S2PA table adjusted(1)
India 7.9 9.0 IALM (2006-08)
Ultimate
Switzerland 0.9 2.2 BVG2010G
Total weighted average for all countries 2.6 4.0
(1) Tables unadjusted for males and rated down by two years for females.